Qantas and China Eastern team up on new Hong Kong budget airline

Tue, 03/27/2012 - 10:31 — Anonymous In the first tie-up of its kind,
Australian carrier Qantas and China Eastern Airlines are putting together a
new passenger airline with the goal of tapping into the booming Chinese
market. Due to launch in 2013 and subject to regulatory hurdles, Jetstar Hong
Kong will be a US$198-million joint venture, with both parties holding equal
stakes. Previous partnerships between Chinese airlines and overseas carriers
have been passenger codeshares or freight-only operations. Fares slashed
Jetstar Hong Kong intends to target the budget air-travel market -- a sector
currently underdeveloped in the region. With fares 50 percent lower that
traditional carriers, the new airline aims to serve greater China, as well as
Japan, South Korea and Southeast Asia.read more